59. the united states from east coast to the west coast is 2,800 miles. the earth is bigger. before we close i have to ask you, would you be happy putting your children's financial education into the hands of the american teachers union? >> no. i have issue with financially responsible parents. my solution is i'm a certified financial planner, 30 hours of continuing education credits, get them to volunteer. they can teach this stuff. stuart: the emails are pouring in about declining seats in the economy or not. they are pouring in. what do you say? ashley: i don't like people reclining on me. stuart: we are out of time.

coast-to-coast starts now. neil: getting tough on china. nothing too tough on stocks as major averages try, earnings winning out even on the verge of having it out with china and iran, more on those new sanctions being considered against iran. triple tariffs on steel and aluminum products. normally that signals a potential trade war leaving to real substantial market selloffs. we will tell you why this might be different. why the president is doing this. >> reporter: president biden any minute is on his way to pittsburgh, arriving in pittsburgh talking with united steelworkers union who's upset about buying us steel, they

approved that agreement and concerned about china and dumping steel and aluminum on the global market. president biden announced he wants to triple tariffs on steel and aluminum taking a page out of donald trump's book. the actions follow what donald trump did addressing china dumping steel on the global market. president biden engaging mexico about steel going from china to mexico and crossing into the us. the former president impose quotas on steel imports, the biden administration not going that far. the treasury secretary talking with the chinese about changing its practices related to this. >> this isn't a level playing field, when the markets we can, prices fall. those that are in our allied

countries, chinese firms continue to receive support so they remain in so this isn't a level playing field. >> reporter: republicans claim for three years this president has done almost nothing to counter china. >> china is in the axis with russia, iran and china, that the axis of evil. they are sending fentanyl, other reports are true. >> the process to raise tariffs will take several months. the public opinion process is open today and will close on june 5th. a report will be written taken by the white house and decisions made based on that report in late summer. neil: normally you would expect the markets not to like this, whether it is justified or not. stocks are getting drilled a little bit but not a lot and

has little to do with these development. we explore that from gibbs wealth management. allen, so far markets ignoring this hard-line the administration takes to china and other things, what do you make of it? >> i am a commodity guy by nature, they finally got a little support and this may push the price of will higher half of what they were, more upside, the impact that has on inflation we will see, but a 5% pullback everyone has been wanting and asking and begging for. what i am seeing is interesting. new swing lows but not highs in volatility. the fear factor is hanging around 18 and last year, way up at 30.

even though the markets feel a little spooked today are not compared to last year. neil: if it is added around these levels people are fairly sanguine about it. that could also be a counter indicator. let me get your take on what is happening here. the markets have been wanting to see a 5% correction. this might be a worry some development, i am sure a lot more relying on cuts. >> i agree these, daddies, fewer commodities going down. there are tariffs that play out. the bigger concern is coming

from fed rate cuts, that potentially add to. i don't think investors will react to this. it will be more bigger decline in the markets. a bigger catalyst whether it is about israel or other conflicts rather than trade tariffs. neil: this notion that people waiting for interest rate cuts have to wait longer. where are you on this? does it matter? >> i am a price guy but as conversation it does matter. we are here longer. they are not higher longer but here longer. rates going higher. it is just delay when you see cuts.

we are accustomed to it. there is no law, no rule and that was when gdp was lower. it is 3%. neil: we were here for longer, on top of that. market rates are higher, the ones the fed can't control. and prompted market rates. i don't know if that is correct in that. >> the fact that people are -- we don't see the same thing in 2024. the second wave of inflation, what is happening. that reassesses the value it

could lead to fixed income and reallocate between the two and see bigger declines in the equity markets, reason to have premium in the equity markets. it is about resetting our expectations and these types of market rates, going to ultimately set the stage the next six months. neil: how we are buying or thinking, or shopping, known in that regard. i tip my hat to my wife, i only say that to echo a wider view that the consumers are strong looking at united airlines and the forecast was very robust through the end of the year.

we are seeing this, carnival cruise lines that show built up demand that is still out there. explain to the consumer, how that factors into your thinking. >> that is the million-dollar question. can the consumer continue to spend and will they have the means to do so. what is important to me is price, focusing on price, 5% off the all-time highs with what is happening in the world right now. the markets were positive on sunday night after the action. the resiliency is definitely there for the markets and the consumer and what's important to me is we are 45% above those extreme lows. markets had an extreme run. people looking for an excuse and off a little bit. will people step up and by? the dip has been the mantra for the last two years.

neil: a lot of people are concerned about buying or refinancing a home with the backup in rates. it could be stalled for the time being. what do you make of that? >> we are seeing weakness in housing starts and a slowdown in sales, higher mortgage rates, they can't afford to purchase another one. within the housing area with the slowdown, let's remember the economy and equity markets are two things, not always correlated. we could have strong consumers and pushing inflation back up higher and still be able to push for room the slowdown in the housing area. neil: i want to pick your brains on what is going on with

chesler and all of that. is this the right time for elon musk to push a $56 million pay package? that is coming up. i want to go to senator john cornyn, a crucial player in be developed on capitol hill including his take on what the president wants to do with tariffs against china tripled under this plan. that could be for starters. always good seeing you. to stick to china right now. >> seems like election-year maneuver by the biden administration like forgiving billions of dollars of student loans. that is what i make of it. there hasn't been any effort by us trade representative to actually enforce trade agreements in the wto.

they make threats but don't follow through and china continues on as it has and always will unless deterred. neil: i was thinking of this treatment considering what donald trump was advising. may be global tariffs at almost everything that comes in, because americans are being treated unfairly. >> a good substitute for that, to provide market access guarantees and reciprocal or multiparty agreements. to me that is much better. tariffs are paid for by the consumer. they do have collective affect but negotiating free-trade agreements this administration seems alluded to.

neil: i would like to skip to something else concerning homeland security secretary mayorkas, the details on impeachment settled in the house, they move on it and chuck schumer getting to do so. some republicans are concerned. six opted out, where are you? >> if there is anybody who deserves to be impeached, it is alejandro mayorkas. i realize he is the agent of president biden's border policy but what he's responsible for is repeatedly lying to congress under oath and the american people and refused, willfully refused to enforce existing laws resulting in the magnet the open border policies have become, contributing to the

deaths of one hundred 80,000 americans who died from drug overdoses last year alone and there' s the 450,000 unaccompanied children in the interior of the united states lost track of them. can't tell you whether they are going to school or forced labor. neil: you would be forgetting this trial going on the senate, mitt romney tried to stake a middle ground saying i am not for this but with the caveat, if we had a debate about it, what do you think? >> senator schumer will try to make sure we don't have an open debate about the biden border policy or alejandro mayorkas's complicity. we are waiting to see what the procedure senator schumer will use but he will try to do this

and not have a full-fledged trial. neil: might be the fastest senate move on impeachment so i will watch it closely. in the meantime following the news, essentially saying i would not travel on a boeing flight and afraid some of those planes might break up in flight. ♪ trading at schwab is now powered by ameritrade, unlocking the power of thinkorswim, the award-winning trading platforms. bring your trades into focus on thinkorswim desktop

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and they are going to make their views known. if they don't flip the policy, israel is dealing with israel and hamas. we are keeping an eye on washington, this whistleblower testifying before the senate detailing disturbing things about a number of boeing planes. >> reporter: boeing is in the hot seat in back-to-back hearings on capitol hill, and into midflight catastrophe. and planes fell apart in the sky and toxic safety culture, and testimony says employees claim if they raise safety concerns they were punished. boeing is dip disputing this, all employees stick up when issues arise, retaliation is strictly prohibited at boeing. senators always hearing a bombshell account from a boeing engineer who blue the with one

issues with the 737 dreamliner jet saying sections of the skin are not properly fastened and could bust apart. he raised questions about part of the 777 jet that he says were forced to fit, a shortcut that could turn fatal for passengers. the with the blower says boeing ignored his concerns and muzzled him from talking to experts about it. >> boeing had problems pushing pieces together, to appear the gaps don't exist even though they exist. effectively they are putting defective airplanes. later, saw people jumping on pieces of the airplane to get them to align, i was told to shut up. my boss said i would have killed someone who said what you said in a meeting. >> reporter: boeing disputes the saying we are fully confident in the 787 dreamliner

because of the comprehensive work to make sure the quality and long-term safety of the aircraft, his claims about the structural integrity of the 787 are in accurate. boeing's ceo was invited to show up at this hearing. he was a no-show. boeing says they offered to hand over documents that many, offered closed-door briefings, they say their way of cooperating with this investigation. neil: historically, we go back to when issues come up about safety for an airline or auto company, all of that, quite some time before you get a sense where things are going. boeing can't get out of its own way. we don't have many aerospace giants in the world. so i wonder, to you first on what you make of this. >> it wasn't so long ago boeing

was the biggest star and it's change in price and psychology is dropping to 170. i think the negativity gets overloaded but i would like to see it former bottom base but it is still a sound company like you said. they've got their market and i am pretty confident in their airline mechanics that inspect each and every jet. this is something people are afraid about. i live my life. neil: didn't strike me as a commercial airline traveler but i learn something new every day. the gulfstream is being parked on sunday. i joke, i joke. we were just speaking about the demand for travel, at the end

of the year. this is the stuff people say i am a little leery, these ones these guys are talking about and i don't know. would it be that disruptive? >> it won't stop people from flying, if you choose an airline where that particular flight wasn't used. they can change the planes at the last minute. there is no guarantee they don't have to fly the planes so people are going to accept the low risk if they want to travel. i don't think people will start driving or not travel. we see earnings estimates very strong for the airlines. many us airline stocks taking a hit, has largely to do with

energy prices. we are not seeing any big consumer pull back from airline travel. neil: we are seeing a decline in interest in anything tesla, half a trillion in valuation and as the stock continues to swoon, buyers are continuing to bolt at a time the cards have never been cheaper for tesla vehicles, so far they are not being enticed, the bigger ev statement or what? >> we will know very soon. earnings coming out next weekend markets expect a 10% measured move. we have a pullback getting close to testing the one year low of one hundred 52. we either test or reject it but i've learned not to disagree. i can disagree with elon musk

but i can't doubt him. he's the richest man in the world for a reason. he has the ability to figure this out. i had a friendly that, a wager that i thought tesla would see 250 before 150. that hasn't come into play at but we are getting close anyway. neil: i want your thought on this. pushing the $56 million pay package. >> billion. neil: his interest aligned with shareholders, shareholders interests not being aligned but what do you make of that and this is the time to push that? >> elon musk's personality, his fan base are the ones pushing at the stock price. we argued for many years there is no reason for the valuations that it does based on sales and

revenue and a consistent reputation, to beat its production values. if they want to argue about the pay package, extraordinary presence in the valuation, if it doesn't align, he will get what he wants. >> it is incentive-based. neil: better be incentive-based. more than you are making right now. thank you very much. talk about incentives and whether you can raise more money, working overtime to raise money and he has been getting more money in. the unfortunate problem is president biden is raising a lot more after this. ♪

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>> nice to see you. >> a lot of crime. we appreciate it. we are working hard and manage the campaign supporting a community.

we appreciate that because we know you are prologue and order. neil: say what you will about donald trump's legal problems and having to stay in the new york area for this trial in the hush money case, he makes the best of the situation. one day getting chick-fil-a for folks in the other day, yesterday, famous for the store owner shooting and killing someone trying to rob the place, became a local folk hero, on the anti-crime push, the former nikki haley donor, what he makes of donald trump's campaign style smart move. stuff like that seems shrewd. >> the right thing to do. what you see, the persecution

of donald trump in this criminal trial in manhattan, i have a history with you. i am also, i am more appalled by the weaponization of the criminal justice system. for alvin bragg to destroy democracy to save it and i'm a big fan of making sure elections are at the ballot box. going to the bodega is perfect because alvin bragg is the district attorneys that didn't prosecute people who rob bodegas all the time but a situation where bodega owner is being held up, in fear for his life edges self-defense, killed the guy who was trying to rob him and alvin bragg arrests and indicts the bodega owner. p eventually dropped the charges, it was from haiti or the dominican republic, he was petrified of staying in new york, the law was not on his side, by trump going there it

accomplishes something. it shows crime is out of control in new york and you have a district attorney who is more interested in helping criminals than average americans. neil: the store owner did not shoot the robber, he stabbed him and he later died. out and bragg than pursue charges against him. the bottom line is donald trump might be winning over guys like you. are you saying you are open to backing him? >> i recently wrote a piece a week or so ago where i said that at the end of the day i will vote for donald trump. it's more a protest vote to joe biden and it arises out of joe

biden's appealing to anti-semites, jew haters and haters of israel and formulating american foreign policy around that. perfect example, we see biden separating the united states from israel. neil: i understand you are -- >> i will vote for donald trump only because as an american jew i find joe biden's appealing to going out of his way to appeal to the dearborn effect in michigan and all these protesters on college campuses and cities protesting israel but these are biden voters, these anti-semites are joe biden voters and he is going out of his way to get their vote and that puts me and my family in danger. neil: we will watch it closely. thank you very much. we were talking about the

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>> is real has to make a response in this case, can they thread the needle in responding sufficiently that it shows this has to cease so that in their view deterrence is restored without escalating the situation further, that iran must take another strike. neil: we don't know if iran has nuclear capability and if it does. and -- that went on a tangent. others say they have no doubt how iran had this capability. that's neither here nor there,

raising the issues to be very careful how it responds to this and how it goes about counterattack. a very good read of what is going on back in israel. whether there are nuclear facilities are close to nuclear operations going on in iran you know israel has a record of doing that going into iraq to take out a nuclear facility so it can and would do that but a different environment, different world of the time. >> i don't think they will go after the nuclear capability. it is totally different. in syria in 2009 they purchased those facilities from outside sources, iraqi got it from france, syria from north korea. it was contained in one bubble. they did it by itself. we did not even know about the reactor in syria, israelis discovered it on their own.

neil: they won't run this bias whatever they do. >> it is are opaque. the big debate is do you go with a covert response or an overt response. if you go over it, fighter jets flying into iran bombing some target, you run the risk of keeping the scale. if you go covert, a huge cyber attack by iran, didn't get much attention here. israel is not just a power but a superpower when it comes to cyber warfare. it's very likely there will be a cyberattack shutting out something in iran, likely enable asset, iran was attacking shipping in the strait of hormuz, one associated with -- neil: but no israel. >> everyone will know outside iran. in iran, they could blame it on

anything. neil: they countered it to that counter. >> it could go on and on but if you go to the nuclear program, iran would mobilize hezbollah with one hundred 50,000 rockets, now you are looking at a regional war, don't think israel wants to do that and if you watch israeli media which i have been doing the debate among the people is is it going to be covert or overt? no one is talking going after nuclear -- neil: i don't mean to get that way but you are seeing these protests all around the world, where the president is going. they are pro-palestinian, pro-hamas signs. that's pretty weird, that was going on in the shadow of the 9/11 attacks.

>> i watched one of the towers fall. neil: is really losing the pr war but something more dramatic to say that. >> i mean there are people doing that. i love this country. the american people are solidly behind israel. i don't see that. i see the opposite. the more i research, back than the democrats were always on the fence. there was a progressive wing even then, jimmy carter made it to the white house. they were not as supportive of israel in those days. republicans are very supportive of israel. democrats, if anything -- neil: the posture doesn't concern you then, telling

benjamin netanyahu not to do that. >> it does concern me. it's a passing grade in that they did give them the ammunition for the rocket attack. everything else is operation hypocrisy. maybe president biden doesn't remember but not long ago he was vice president. when we fought operation inherent resolve against isis, president obama didn't supply our enemies in the middle of a war. president biden keep saying they must, they must supply, supply enemies in the level war. we sealed off from marty. neil: i want to raise this, house foreign affairs committee member. what do you make of the concern

about relationship with america itself and whether future aid could be riding on it. the western world have it. what do you think of that? >> thanks for having me. the president's relationship with israel is ironclad. that's been super clear from moments after october 7th until last week when the united states built a coalition to help israel defend itself against ballistic missiles, there are tectonic plates shifting under our feet in america on my side of the aisle. you saw it when 40 members voted against a resolution declaring from the river to the sea as anti-semitic. that is for the calling of the elimination of the state. neil: we are showing what is going on in pittsburgh, a

pro-palestinian rally, looking for hamas signs. what do you think of all fat? >> the same people clawing at the posters in new york of the hostages, who then started chanting genocide, when not talking about sudan when there's an actual genocide or the uighurs where there's a genocide. only gaza where there is into genocide but there's a lot of jews and what you are seeing, people who have been chanting, not all of them but when iran, ballistic missiles that can carry a nuclear warhead if iran got nukes, they were cheering on iran, cheering them on of what they were doing. a lot of this is why i voted for the tiktok bill. a lot of this propaganda is

sold to the american people through algorithms feeding them false information and misinformation and unhinging us from inside. the idea that israel could become a partisan issue is devastating to the politics of ferrigno. let's not pretend there aren't some isolationists on the republican side who don't want to help israel or any foreign country. they were that the ayatollahs take iran, and prudent take europe, the extremes on all sides of this are not good. it is why i support what speaker johnson is trying to do on the floor. neil: it looks like a prominent democrat in the house working to save the speakership, that's not the goal, you are trying to get stuff done. that will depend on democrats like you. >> what's the message to our allies in the world if we take

a second speaker and can't stand with israel, our number one ally, what's the message? the united states is no longer dependable. we will push, speaker johnson goes, the extremes in his party, we will push allies into the hands of china and russia. that will happen. this is about western democracy. hakeem jefferies said this is the churchill or chamberlain moment and he is right. that is why i am standing with speaker johnson and i won't let the extremes of any party throw the united states to the cliff and allow western democracy to fall into the hands of china and russia. this is a time democrats and republicans need to come together, this is our moment in the 118th congress. neil: thank you, thank you very much, we will take a quick break. i want to draw your attention to the dow down 143 points.

this is a significant level. if it has anything greater than 109 point loss, a little more after this.

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the gulf of mexico there's a reason for the industry to protect this massive infrastructure investment so we take contingency planning seriously. that shows how good we are at it. when hurricane harvey was wandering aimlessly, took 40% of production off-line for a few days and the reality is we got back up and running even after a major hurricane like that and with little if any supply disruption in 0 environmental disruption. that shows how good we are. neil: the administration closed off research and drilling in alaska. my point is all this when demand is building and more people getting ready for a busy summer travel season, worst time for that kind of stuff. >> we are entering an i told you so moment when the administration started to ramp down federal production, we don't have the cushion like we used to have and we will find

our industry which is producing record levels, to say we told you so, we don't have the cushion we once had. that will impact prices. . 20 give us an idea what you fear? >> on hurricane season, that's something to watch but i fear international events more than anything, we can handle the seasonal refinery changeovers to seasonal blends. we can manage that. i fear major disruption on the global stage which interrupted global supplies, we don't have the cushion we used to have to move product around the world. more than any hurricane. neil: a traded commodity much more so, we will watch closely, thank you very much. oil prices, stable gas prices, taking a bit of a pinch on all of this. jackie deangelis and "the big money show" guys already